CHART: Recorded Music Sales Have Collapsed and Were At a 40+ Year Low in 2013 http://t.co/p0zIdbutSx—
Mark J. Perry (@Mark_J_Perry) May 07, 2015
Creative destruction in recorded music sales
16 May 2015 1 Comment
in entrepreneurship, industrial organisation, Music, survivor principle Tags: creative destruction, entrepreneurial alertness
The Death of the One-Hit Wonder
13 May 2015 Leave a comment
in economic history, economics of media and culture, entrepreneurship, Music Tags: consumer sovereignty, creative destruction, entrepreneurial alertness, market selection, one-hit wonders, superstar wages, superstars, The meaning of competition
In a recent article, The Atlantic argues that while record labels used to be able to determine which songs would become radio hits, stations now rely more heavily on consumer preferences.
In short, iHeartMedia, the conglomerate that owns 850 radio stations, doesn’t care about the desire of the music industry for a quicker hit cycle so they can sell more units. They just don’t want you to change the channel — and the best way to keep you tuned in is to keep playing the same songs.
Another factor is that 1% of artists earn 77% of all revenues from recorded music. Modern music is dominated by superstars. Some of these are quite old superstars from many decades ago when they first had their first hit. The industry circling its wagons:
Just as the movie industry seems to be relying more heavily on sequels, the music industry is putting more emphasis on promoting established artists.
In a turbulent marketplace, record companies are liable to be more risk averse. Developing new artists who might hit it big is less appealing when the prize is projected to get smaller.
That’s “me” in the Abbey Road picture
11 May 2015 Leave a comment
in Music Tags: The Beatles
Greatest Photobomb EVER http://t.co/cRzslKdOwM—
History Pictures (@CombinedHistory) May 10, 2015
Top country musicians earn serious money
09 May 2015 Leave a comment
in economics of media and culture, entrepreneurship, Music Tags: country music, superstars
via • Chart: Country Music Acts Earn Staggering Amounts of Money | Statist
The development economics of Bono
04 May 2015 Leave a comment
in development economics, growth disasters, growth miracles, Music Tags: Bono, ODA, overseas aid, U2
Ringo Starr’s 1965 Rolls Royce
02 May 2015 Leave a comment
Ringo Starr's 1965 Rolls Royce Phantom V. http://t.co/BFRiNIkC0e—
ClassicPics (@History_Pics) April 30, 2015
15-year-old John Lennon’s report card
26 Apr 2015 Leave a comment
in economics of education, economics of media and culture, Music Tags: John Lennon, The Beatles
15-year-old John Lennon's report card says, “Too many wrong ambitions & his energy is too often misplaced": http://t.co/2xMThgXTzm—
Michael Beschloss (@BeschlossDC) April 24, 2015
Classic rock now covers the period when I was a teenager
21 Apr 2015 Leave a comment
in economics of media and culture, Music
Creative destruction in CD sales
17 Apr 2015 Leave a comment
in applied price theory, economic history, economics of media and culture, entrepreneurship, industrial organisation, Music, survivor principle Tags: creative destruction, entrepreneurial alertness
Digital music sales have exceeded those from CDs for the first time: on.wsj.com/1yp37FW http://t.co/LDOdrgGap9—
Wall Street Journal (@WSJ) April 15, 2015
Paul McCartney, John Lennon & George Harrison performing at a wedding reception, 1958
08 Apr 2015 Leave a comment
How Music Sales Profits Are Divided
07 Apr 2015 Leave a comment
in economics of media and culture, Music Tags: rockonomics
Utopia, you are standing in it! 
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